Mediation

Categories: Banking

“Mediation” is a type of dispute resolution where the two disputing parties sit down with a third neutral party (so much partying) and attempt to reconcile their differences.

Let’s say roommates Brad and Angie have found themselves in a contentious situation. When they first moved in together, it was agreed that they’d switch off doing dishes. One week it was Brad’s turn, then the next week it was Angie’s turn, and so on. Well, the system has broken down somewhere, because no one has done dishes in almost a month. The roomies are completely out of plates and silverware, dirty dishes are stacked so high in the sink that they can’t even reach the faucet, and there’s a funky smell emanating from somewhere in the dishy depths. Both are refusing to wash a single dish, and now they’re making noise about taking the issue to small claims court.

Enter Mediator Moe. Mediator Moe’s job is to listen to both sides and then work with Brad and Angie to come up with mutually agreeable solutions…and a plan to put them into action. Maybe he’ll suggest that the roomies work together to clear the sink before returning to their original agreed-upon arrangement. Maybe he’ll suggest that they splurge and install a dishwasher so handwashing dishes becomes less of an issue. Maybe he’ll suggest they hire a weekly cleaning service to eliminate the problem altogether. Whatever the solution is, the salient points here are that (a) it’s mutually agreed upon by the disputing parties, (b) the process was managed by a mediator (also called an arbitrator, because mediation and arbitration are pretty much the same thing), and (c) the whole situation is solved out of court. That’s mediation in a nutshell.



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